Sigma Capital, an early-stage venture firm based in Dubai, has announced a $100 million fund aimed at fostering Web3 startups. This initiative is strategically aligned with the United Arab Emirates' emergence as a global crypto hub. The fund will concentrate on decentralized finance (DeFi), tokenization, and blockchain infrastructure through a management approach that includes a portfolio of liquid tokens. Dubai is positioning itself amid competition with other financial centers like Singapore and Hong Kong, striving for approvals from major crypto exchanges such as Binance and Crypto.com. These movements reflect a growing interest in harnessing Web3 technologies within the region.
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